Ocwen has put me into foreclosure

RUUUUUUUNNNNNN,this company is criminal. We went from a $2,100 mortgage to a $6,000+ mortgage due to their forbearance scam. Why in the heck they thought we could afford a $6,000 mortgage when we were late with the $2,100 sure is questionable. We learned the hard way LET IT GO. We turned to several foreclosure specialists, and each one ripped us off close to $260.000 (no joke). They stole all of our equity. We also paid for bogus services. It is not worth it to be buried up under the house, or sleeping in your van because your now homeless (take from me, been their done that). The home market being the way it is it is better to rent. You don't have to worry about insurance,taxes,home expenses. LET IT GO. If you don't you will regret it after all the nights of worry and crying.

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Ocwen is a one of the best banks to negotiate, you are dealing with the wrong people from the bank. I do loan modifications for a living and they do negotiate. A loan modification will bring you back to current and lower your interest rate and payment. Call the loss mitigation department and ask for help or you can hire some one like us to do everything for you.

This is in response to Rodo who said Ocwen is the best to negotiate and to call their loss mitigation department...#1 - Ocwen does NOT have a loss mitigation department. They have what they call Loan Resolution Consultants-their job is to back the borrower into a Forbearance agreement that requires a "down payment" based on God knows what formula?...plus increased mortgage payments and if you don't already have an escrow account, they will force that on you also and ask for funds up front for that. #2 - Ocwen does NOT lower your interest rate or payment unless you FIRST agree to a Forbearance agreement as outlined above...then if you are extremely fortunate, you might be able to get an interest rate reduction after you prove that you can make the higher payments and give them their "down payment" for the Forbearance. They do NOTHING without requiring money up front.
How do I know this? I have been trying to work with them for 2 years on our own home. They have some of the most abusive, obnoxious and rude managers I have ever spoken to. They don't give you any way to return calls to the person you are dealing with - you have to just take your chances and explain everything all over again - every time you call!! Now, that's provided you can get through at all! I have documented several times when I have tried to call Ocwen and their phone message says they are having 'technical' problems and to call back later - one episode of this lasted for 5 days! Several times when I've called to talk to someone, I've been on hold for hours (literally - HOURS!) other times I've gotten the message that says to leave a call back request and state what day and time you want this call back to take place - HAHAHA! That was a huge joke on me because as I waited for the 'beep' all I got was a recorded voice that said that I would have to call back later because this mailbox was FULL! Wonder why? This is all while people's homes are being foreclosed on! Their website is another piece of crap. It doesn't show any figures that remotely apply to our loan - that was when I could log on to the site. Now, all of a sudden, my signon no longer works for Ocwen's website - I have it written down, it's been the same all along (besides, my computer browser retains this information for each website) - but now it says 'authentication failed' when I try to log on. The only reason I am trying to get on their site is because I have repeatedly asked Ocwen for a Loan History showing exactly what we've paid and what they've assessed us and where all the money we have paid has been posted....I actually got told by one of the managers (Steven) that I didn't need to know this information! After I got finished hitting my head against the wall with that, I tried the website...with the results I stated above. Also, when I couldn't get logged on I tried registering again on their site but using my husband's information this time instead of my own - well, that didn't work because it wouldn't allow me to enter the loan number, social security number or zip code!

We have given Ocwen a total of $22,500.00 in 'down payments' over the last 21 months - this is in addition to many, many payments - yet I haven't gotten a single piece of paper from them that shows any of that $22,500.00 anywhere - much less where it was credited and how. Do they just have a big party on my money?

I'm a retired escrow officer so I know about mortgages and real estate - I'm not saying I'm an expert but I am a bit more knowledgeable about this stuff than the average homeowner and if I'm having these problems and feeling so frustrated then I just cannot imagine how horrible it must be for anyone that doesn't have any experience in this area. The only reason Ocwen hasn't already held the foreclosure sale on our home is because I fight them constantly!!

I won't go into our big sob story about why we got behind, etc...we all have our reasons - we all would prefer to be current on our loans - we don't want to lose our homes - we don't want to have to deal with lenders and our loss of credit worthiness - we just need a little help to get back on track. I never once asked Ocwen for anything for free! Though that is the way they treat my requests.

I could go on and on with more examples of Ocwen's abuse - I really just want other people to know what to expect from these dirtbags!

I agree with the person who said Ocwen is criminal and to run. My situation is been going on since 1998, when Ocwen became my loan servicer. They did not apply payments in a timely fashion and charged unessary fees and expenses. In 2002, I had to obtain an attorney to keep my house out of foreclosurer. The 33 points that my attorney pointed out to the courts are exactly the points that involved in the class action lawsuit that is going on in the Sate of Illinois against Ocwen. This countersuit that we filed did nothing to stop Ocwen of doing the same kind of charges and fees and foreclosure notices as before. I can not even tell you how many times I have been in foreclosure because of their "mistakes" Ocwen always wants to offer forebearances with large deposits and never accounts for the deposits. In 2006, Ocwen sent me a notice saying that they were removing approx 12,000 from my loan. This was never done. I finally received a statement in the last weeks that showed these had never been removed. On top of all this, they tried to get me to sign loan modifications, but would never detail in writing the fine print,ie how much fees and expenses would be added to my loan at the end. I would not sign. My house was sold at a sheriffs auction today, July 28, 2008 even though they could not prove the "parties of interest" the Loan holder. The lawsuit said the bank of New York successors of Chase. I called both banks and neither of them had my loan. I call this FRAUDULENT. Ocwen is an organization that by law should be shut down. How are they getting by with this? They called me even today sometimes 3 and 4 times a day and hang up when i answered. Isn't this harrasment?
When you do get through to them after being on hold for up to 2 hours, you cannot understand their
service reps... Maybe because the calls go to their India office?

I am angry with these people, they are criminals and predators and I will fight for my homeowners rights. Whether it be by Class Action Law Suit and by making complaints to the Attorney Generals office and by making complaints to the Federal Fair Action Agency. I WILL NOT QUIT FIGHTING UNTIL OCWEN IS OUT OF BUSINESS,,,,, and I urge you, the people who have been used and stolen from to do the same.

today which is monday oct 6 2008 I had an argument with ocwen I TOLD THIS REPRESENTATIVE that we would be alittle late for oct forberance payment and he told me that if money not received by oct 7 that we would be placed in to foreclosure then my wife got on the phone and she really left the the so called some what of aenglish speaking person have it by sayingHOW CAN YOU PUT US IN FORECLOSURE JUST BECAUSE WERE A FEW DAYS LATE AT THIS TIME THE PERSON WAS SCREAMING AT MY WIFE IN A DIFERRENT LANGUAGE SO MY WIFE HUNG UP FOR GODS SAKE STAY AWAY FROM OCWEN BY THE WAY DID YOU KNOW THAT THERE HEADQUARTERS IS LOCATED IN INDIA YES INDIA BEWARE

I have a mortgage with OCWEN for 4 years. about a year ago I called them asking for help. I get the run around just like most of you. Basically i'm at the point where I'm pissed agree that they should be shut down. I want a class action lawsuit against them. I will do whatever it takes to make the world see what criminals they are.

I was also in foreclosure...went through months of trying to save my house. Used HOPE NOW, which by-the-way is also OCWEN, offered no help! Their customer service reps are impossible to understand...don't speak english, all they want is money upfront. I saved my home by agreeing to a loan modification with $2,000 upfront money. This company is criminal and unfortunately...folks like myself are trapped and are stuck with OCWEN because my credit is bad and because of OCWEN I have a bad payment history...which as you know...a typical mortgage lender will not take the time to even look at my loan. I keep saying to other lenders...if I can make the high house payments now, then I will certainly be able to pay a refinanced lower amount. But, its just a vicious cycle. I just need help...I just need to refinance with a lower rate and get out from under OCWEN. OCWEN is the shinning example of what created the subprime market failure in this country. They need to be put out of business!!!!!!!

I agree OCWEN IS A RIP OFF!!!!!!!!!!!!!!In the last 4 years I have paid this company $70,000-$75,000 in interest and have not paid off $.01 on my principal. I have asked repeatedly for them to help me. When I tried refinancing with another company they did everything to stop it. Even saying that I was in foreclousure, When I Wasn't. Of course that brings up red flags to the other lenders. I have tried the modification process, what a joke. When they put my income in the computer, they conveinlently added an extra 0 at the end of my income making it look like I made alot more money. I have gotten physically sick because of this company, I have gone without alot of things just to try to make the out ragious payments. They are nothing but a bunch of foreign theives. They have tried to force me to make payments and I REFUSE to give them any more money. According to my credit report I don't even have a mortgage. I am now in foreclousre and looking at losing my house that I have been in for 23 years. Someone needs to stop this company from stealing. If I would steal like this I would be thrown in prison

I am in the same fix as everyone else, except I went to pfha for help which know what i know now i would not have. My mortage payment started at around 690. per month
then Ocwen bought my account approx.
five years ago and through a few forbearence my payments are around 1200. per month plus my loan from pfha is 374. per mnth. I am at a loss, i am 2 mnths late on my current forbearence plan and ready to give up. my interest rate is about 11.5 percent HELP

CLASS ACTION SUIT....where do I sign up. This company has caused me the greated grief. In short, I am a single mom of three. The state of the economy took me by surprised. Still I paid my mortgage, sending them every dime I could find. Finally the burden was too much to bare. I called OCWEN and spoke to an represetative in the Loan Resolution Dept. Being $4,600 behind I was given the option of sending $1,200 as a down payment and my regulare ARM motgage payment of $1,076 in the same month. This from a woman who next to nothing, but i did it-to save my home.

Before I sent the payment, I called to see if the agreeement was valid. They said yes, I western Unioned the money and sent a check for the mortgage. I was told to wait one week for it to all process. One week later, I called and was told to give it two more days. Two days later I was told, I sent the down payment in to late and would have to begin all over. CAN YOU SAY- WHAT THE HELL!!!!!

If I am struggling to pay the mortgage, what makes you think I can send that amount of money again next month.... I give up. And after reading all of these comments, I see that I am not alone.

By the way, I found out that they already own 10 houses in a five mile radius of my home. Mine just may be #11. I can't take it anymore.

For anyone involved with trying to work with Ocwen...there is NOTHING you can do to save your home by working with them. I have tried for over a year and finally had to give up and file Chapter 13 to save my home from foreclosure. Until I started researching them, I thought this was only happening to me. All you have to do is Google "Ocwen fraud" and watch how much info you get. It is the same sad story over and over again. I am doing everything possible to file complaints with every agency I can find to somehow get attention to what they are doing. I know it will probably be fruitless since it seems they have been doing this for years despite several class action law suits against them. I truly wish I had never heard of them or had to deal with them. They are truly piranhas and feed on the misfortune of others.

I just want to get this off my chest ... I HATE OCWEN!!! We have a 2nd home serviced by Ocwen and we have had that home for sale for over a year and we have had 3 valid bona fide offers in 2008. Granted these were all as short sales because they jacked us up with late fees etc. and made us "upside down". Our first offer was for $214K and we had a mortgage balance of $217K where we stopped paying the mortgage of $2100 because we could not afford it anymore and had to concentrate on paying our mortgage on our primary home to keep that one from going into foreclosure. Our financial situation changed for the worst in 2007 and we fell behind in our mortgage payments with Ocwen. Our first offer was in February 2008, we stopped paying the mortgage in March 2008, anticipating a closing date of March 31, 2008. Ocwen filed foreclosure papers April 1, 2008. This process dragged on and on to the point that on May 1, 2008, the buyer walked. However, just before Memorial day, we got a cash offer of $200K from an investor who wanted to close immediately. We told Ocwen about this and we found ourselves in court fighting the foreclosure June 2008. The Judge told the lawyer for Ocwen after he was informed of the 2 offers to buy as short sales, which eventually fell through because both of the buyers got inpatience, that Ocwen needed to expediate the situation. The Judge said that I have acted in "good faith" to find buyers for this property. Well, Ocwen scrambled and modified our loan last September, which took us out of foreclosure. However, our modifed payments were now $1515 with $2500 down payment. Well, since this is our 2nd home that we are trying to unload, our concern is not for this home and in these strained economic times, if I could not afford $2100, what makes them think I can afford $1515 when I have a primary home that I need to direct every dollar that I can to save my primary home in which I and my family reside. The right hand does not know what the left hand is doing. Because I found these losers 2 bona fide buyers ready to close for a short sale and when they dragged their feet, I lost 2 buyers. Well, low and behold we had another offer to buy as a short sale in October 2008, which was for $205K with a buyer already qualified and approved. Once again, Ocwen dragged their feet again and we followed all the procedures for a third time for a short sale, we we never get the same person or a supervisor. We also got another lawyer involved, as we had before with the 2 other offers. The first lawyer said Ocwen is impossible to deal with, she herself got frustrated with Ocwen and refused to deal with them anymore. So we had to get another attorney to help us with this 3rd attempt to sale this property. This attorney got a hold of Ocwen and they informed him that they (Ocwen) would need 60 days to decide on whether to approve this short sale. This was told to the attorney January 14, 2009. Well, guess what? The buyer got inpatience and walked. I have had 3 offers to buy this property ranging from $214K, $200K in cash, and the lastest $205K already approved and ready to close and move-in. Yet, the balance after they jacked up my cost has escalated to $242K and before the modification the balance was $217K, what constitutes $25K increase, by the way, they have never explained these figures to me. I stopped paying my mortgage last November when I got frustrated with them. I say *$|##!!@ them and let them foreclose, I hope they are stuck with this house forever and I hope the government shuts them down. I tried everything I could to save this property and in these economic times I managed with the help of my wonderful realtor, find 3 bonafide buyers, and I worked with 2 attorneys where I have spent money to retain them to help me with this situation. They suck and I want the CEO of Ocwen to get his or hers just desserts from the government. I want Ocwen to go down and I want the CEO to shove this property up his or her a#$. Ocwen can go to HELL!!!

I agree Ocwen is the worst!!!!! Everyones HORROR STORY SOUNDS THE SAME WE SHOULD START A CLASS ACTION!!!! I had a mortgage payment of $1,700.00 lost my job and asked Ocwen for help to prevent foreclosure. They "HELPED" me by providing me a "FOREBEARANCE" THAT REQUIRED $6,000.00 upfront and increased my monthly to $2,300.00 monthly!!! OCWEN IS THE WORST LOAN SERVICER IN THE WORLD!!! Ocwen's only allegianceis to the Wall Street Sewer Rats that allow this company to behave this way!!!

I'm having a huge, scary problem with Ocwen. I was laid off in October, and luckily started working again in December, but at a lesser salary. I also had to appeal for unemployment, so didn't have a penny of income until the end of December In late January I called Ocwen to figure out how I could get back on track with my December and January payments. I was given a list of stuff and a form to send in to request help, with assurance they'd find a solution. Waited through February, nothing. Then Obama's new plan took effect in March, so they made me send in a whole new application. In April, I found out I had to resubmit my tax return with a live signature. All this time, NOTHING is happening to resolve the situation. So guess what? I got a default notice that month saying they could sell my property in three months! Even though they tell me not to call, I call weekly, hoping for some update. They keep telling me to wait. Three weeks ago, they said they were almost done and they'd email me. Nothing. When I try to call I hold for hours before either getting hung up on or being told in broken English they have no information for me. Yesterday, I just repeatedly got dumped into some lady's voicemail. They now have a heavily-accented recording saying promising that they will hold off on foreclosing if you're behind, but the guy I talked to last week said they won't stop foreclosures. Oh, and the best part? They're automated robot calls me every day or so telling me to call Ocwen. Which leads to the above.

According to the notice, I only have about a month before my house could be sold at auction without further notice. Oh, and I'm pregnant. I have no idea where to start. I guess I should contact a bankruptcy lawyer? This is all mortifying.

We were two month behind on our adjustable rate payment when I tried to get Litton to modify our loan and all they did was give me the run-around! I couldn’t believe it when the guy on the phone actually said that my family shouldn’t eat so much because then we would spend less on groceries and would have more money to make our mortgage payment! What a jerk! He also said we should get a cheaper car and a bunch of other stuff that was really rude. Come to find out the loan modification they were going to give us was a just Forbearance Agreement and all it was going to do was add the payments we were behind on to the back of my loan. Since our interest rate was going to stay the same, this would actually make my payment go up! THAT’S what got me into this mess in the first place! My payments are too high! This whole thing was keeping me up at night worrying about what was going to happen to us. I told my friend at work about this and she said I should call the loan modification company that got her loan modified down to 3.75% fixed interest rate! I decided to call them, and in about 45 days they got my interest rate down to 4.35% and it’s a fixed rate too! The company is First American Financial Group and we are really happy with what they did for us. The website is, w. w. w. TheLoanModFacts . com. We went with them because they have attorneys on staff to make sure the banks do the best they can and they have a 100% money back guarantee. I hope this helps some other people fighting with their loan company! Don’t give up and don’t be intimidated by your mortgage company!

It is impossible to work with Ocwen. They forced me into bankruptcy, they padded charges and escrow, they refused to work with me when I was only one month behind. Now they are saying I owe them for insurance on the house when I have always paid the taxes and insurance without an escrow account. I have never spoken to anyone I could understand on the phone and asked for everything in writing which never came. Now my bankruptcy is taking 100% of my paycheck and I am a mother of two children. Even the bankruptcy system is crooked. How can they take every penny I make to pay Ocwen and expect us to survive? I guess lights, water, gas and food are just luxuries these days.

UPDATE: People, like most of you, I adore my home. I blogged earlier this year about my problems with Ocwen, but here is what happen next. So.....I signed up to participate in the "HOPE NOW" program. I sent them everything,(practically a hair and blood sample) to get the refinancing going. I called to make sure they had everything, the representative confirmed and then assured me that the underwriter would process the paper work and I would recieve something soon. Well that was in January...Feb came, I called every week sometimes two times a week, and was given the same spill. At the end of Feb. I received a letter saying the house was up for sale on the firt Tuesday of the next month. So I called Ocwen back, I was assured that the letter was merely a formality, ignore it and wait for the modification paper work. I guess you already know, those never came. In March, April or May... and the pattern of me calling and being given the run around continued. So did the forclosure and sale letters. So here we are in June.... With no notice, no modification, no equity in the home, repairs are needed, and danger of forclosure, I have opted for bankruptcy... I will start all over in a couple years. THANKS OCWEN.....FOR NOTHING.

IF anyone out there believes there is hope in working with this company....please think again. The constant back and forth with indivuduals you barely can understand and broken agreements was too much for my sanity. I tried to stick it out, but it's not worth it.